Is the Bills payable is personal account ?
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Answer / rafeeq ahmed
It's a liability and it comes under balance sheet. Liabilities side.
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it is an obligation to pay debt, and all outstanding liability comes under personal natured. Hence it is under personal account.
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ADR DEFINE
1.WHAT IS BRS? 2.WHY DO WE PREPARE BALANCE SHEET? 3.WHAT IS TRIAL BALANCE? 4.WHAT IS VENTURE CAPITAL? 5. WHAT IS DEFFERED REVENUE EXPENDITURE?
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